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A hacker transforms 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In early 2024 a relatively modest investment—just a quarter of a dollar in Bitcoin—was leveraged by a skilled attacker to generate an astronomical amount of fake Bitcoin tokens on a decentralized finance (DeFi) platform. The exploit centered on a cross‑chain bridge known as Symbiosis, which is designed to allow users to move assets between different blockchain ecosystems while maintaining a pegge…
Sept. 15, 2026, 1:43 p.m.
Tech
A Hacker Transformed 25 Cents Worth of Bitcoin into 46 Billion Counterfeit BTC Tokens via a DeFi Bridge
In a dramatic illustration of how vulnerabilities in decentralized finance (DeFi) protocols can be exploited for massive profit, a single attacker managed to turn a modest investment of just twenty‑five US cents worth of Bitcoin into a staggering 46 billion counterfeit Bitcoin tokens. The operation was carried out on a DeFi bridge known as Symbiosis, a platform that enables users to move assets a…
Sept. 15, 2026, 1:43 p.m.
Tech
A Hacker Converts 25 Cents Worth of Bitcoin into 46 Billion Counterfeit BTC Tokens via a DeFi Bridge
In early 2024, the decentralized finance (DeFi) ecosystem was rocked by a startling exploit that demonstrated both the ingenuity of attackers and the fragility of smart‑contract based bridges. A single individual, armed with only a modest 25‑cent worth of Bitcoin, managed to fabricate an astronomical 46 billion counterfeit Bitcoin tokens—known in the Symbiosis ecosystem as syBTC—by exploiting two…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In early 2024 a relatively modest investment—just a quarter of a U.S. dollar in Bitcoin—was turned into a staggering 46 billion synthetic Bitcoin tokens (syBTC) on a decentralized finance (DeFi) bridging platform. The incident, which quickly captured the attention of the crypto community, exposed critical weaknesses in the bridge’s smart‑contract code and highlighted the systemic risks that arise…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a startling illustration of how vulnerabilities in decentralized finance (DeFi) protocols can be exploited, a single attacker managed to turn a modest 0.25 BTC—equivalent to just twenty‑five cents at today’s market price—into a staggering 46 billion fake Bitcoin tokens. The operation was carried out on a DeFi bridge known as Symbiosis, a platform that facilitates cross‑chain token transfers an…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a dramatic episode that underscores the fragility of decentralized finance (DeFi) infrastructures, a single attacker managed to turn a modest 0.25 BTC holding into an astonishing 46 billion synthetic Bitcoin tokens (syBTC) on a cross‑chain bridge operated by Symbiosis. The exploit was not the result of a sophisticated cryptographic breakthrough, but rather the convergence of two distinct softw…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking example of how vulnerabilities in decentralized finance (DeFi) protocols can be exploited for massive profit, a hacker managed to convert a modest investment of roughly twenty‑five US cents in Bitcoin into an astronomical quantity of fake Bitcoin tokens—approximately 46 billion syBTC—by exploiting a bridge that connects multiple blockchain networks. The incident underscores the grow…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a startling episode that underscores the growing pains of the decentralized finance (DeFi) ecosystem, a single attacker managed to turn a modest investment of just twenty‑five US cents worth of Bitcoin into an astronomical 46 billion fake BTC tokens. The exploit was carried out on a DeFi bridging platform known as Symbiosis, which facilitates the seamless transfer of assets across multiple blo…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking illustration of how fragile decentralized finance (DeFi) can be when code flaws slip through the cracks, a malicious actor managed to turn a modest investment of just a quarter‑dollar in Bitcoin into an astonishing 46 billion fake Bitcoin tokens. The attack was carried out on a cross‑chain liquidity bridge known as Symbiosis, a platform that enables users to move assets between diff…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a dramatic episode that underscores the growing pains of decentralized finance, a single attacker managed to turn a modest 0.25 BTC holding into an astronomical 46 billion synthetic Bitcoin tokens (syBTC) on a cross‑chain bridge. The exploit was made possible by a pair of software vulnerabilities that together allowed the malicious actor to mint more synthetic Bitcoin than could ever be backed…
Sept. 15, 2026, 1:43 p.m.